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SAN FRANCISCO , June 2, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Milling Machines - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Edition: 8; Released: May 2021 Executive Engagements: 2202 Companies: 425– Players covered include Amera-Seiki; ANDERSON EUROPE GMBH; Baileigh Industrial Holdings LLC; Benign Enterprise co.; CHIRON Werke GmbH & Co. KG; DATRON Dynamics, Inc; DMG Mori Seiki Co., Ltd; Doosan Machine Tools; EMCO Group; FANUC CORPORATION; Haas Automation, Inc.; Hurco Companies, Inc; JET TOOLS; KNUTH Werkzeugmaschinen GmbH; Makino Inc; Maschinen Wagner Werkzeugmaschinen GmbH; Okuma Corporation; Shandong Schuler CNC Machinery Co., Ltd.; TOP-ONE Machinery Co., Ltd.; TRIMILL, a.s.; Wells-Index Milling Machines and Others. Coverage: All major geographies and key segments Segments: Type (Horizontal Milling Machines, Vertical Milling Machines); End-Use (Industrial, Power & Energy, Automotive, Aerospace & Defense, Other End-Uses) Geographies: World; USA ; Canada ; Japan ; China ; Europe ; France ; Germany ; Italy ; UK; Spain ; Russia ; Rest of Europe ; Asia-Pacific ; India ; South Korea ; Taiwan ; Rest of Asia-Pacific ; Latin America ; Argentina ; Brazil ; Mexico ; Rest of Latin America ; Middle East ; Rest of World.
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Global Milling Machines Market to Reach $8.5 Billion by 2026 Milling machine is one of the most commonly used metal cutting machines. These machines are indispensable for metal cutting applications in a diverse spectrum of industries and commonly employed for drilling, slot cutting, gear cutting, fillet making, turning and chamfering functions. Milling machines are used to remove metal by moving a workpiece through the periphery of a rotating cutting tool such as a drill, tap or mill, across a metal block. These machines can simultaneously perform different cuts using multiple cutters. Amid the COVID-19 crisis, the global market for Milling Machines estimated at US$6.4 Billion in the year 2020, is projected to reach a revised size of US$8.5 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Horizontal Milling Machines, one of the segments analyzed in the report, is projected to record 5.3% CAGR and reach US$6.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Vertical Milling Machines segment is readjusted to a revised 3.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $253.7 Million in 2021, While China is Forecast to Reach $3.7 Billion by 2026 The Milling Machines market in the U.S. is estimated at US$253.7 Million in the year 2021. China , the world`s second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2026 trailing a CAGR of 5.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 3.2% and 4% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 3.9% CAGR. Growth in these markets will be driven by the growing focus on automation, five-sided machining, and multi-axis machining. Expensive nature of advanced milling machines and shortage of skilled labor are driving manufacturers to invest in R&D to develop automated diagnostic solutions and reduce the overall maintenance cost. More
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About Global Industry Analysts, Inc. & StrategyR™ Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS: Zak Ali Director, Corporate Communications Global Industry Analysts, Inc. Phone: 1-408-528-9966 www.StrategyR.com Email: [email protected]
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